No, it's not, but the debt has always been there. Saying they're teetering on being auctioned off after the season is a big difference from saying they're reorganizing the situation, which is still a mess.

The Forbes story makes me feel even worse about this whole situation. The Devils have a higher debt than their net worth, we're in default, and Forbes confirmed that creditors can push some buttons after the season ends. I highly doubt it will ever get to that, but the fact is that the organization has some serious financial problems. We're going to be nowhere near the salary cap this season, and I think this will become a pattern in coming years until the situation is resolved. I have no problem with that, I just wonder if we can remain competitive without matching teams with higher salaries.

The Forbes story makes me feel even worse about this whole situation. The Devils have a higher debt than their net worth, we're in default, and Forbes confirmed that creditors can push some buttons after the season ends. I highly doubt it will ever get to that, but the fact is that the organization has some serious financial problems. We're going to be nowhere near the salary cap this season, and I think this will become a pattern in coming years until the situation is resolved. I have no problem with that, I just wonder if we can remain competitive without matching teams with higher salaries.

They've had a higher debt than their net worth ever since the took out the money to start construction on the Rock. They're also going to be at $59-60M, so they're nowhere near the floor. If anything, they should stay the hell away from the cap because everytime they end up near it, 26 people get hurt and leave them with no cap flexibility whatsoever since they're in debt to LTIR for a bajillion $'s.

If they got bound like they did last year two seasons ago... no Kovalchuk unless they traded $ for $. And since half the team has NMC's...

the good thing is... were gonna have lots of cap space next season, around 25m per cap geek and not too many big players to resign except parise... even if he get around 7.5 or wtv we would still not be against the cap so